Flooding cancelled the 2nd week of my fishing trip so I'm back...did y'all miss me?
I guess nothing changed in the 10days I've been out, TLSS sliding closer to delisting day by day...now only 19 days where it would need to be above .01 for 10 consecutive days before it goes Pinky..but my guess is the mgmt team thats raping shareholders with their salaries and stock grants (Giordana 125mil shares..for doing what?) will at the last minute do a reverse split to keep it OTC status....but that IMO will only be temporary....just more smoke an mirrors. Glad to be back and fighting the good fight against BS co's, promoters and brokers
tem 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May 23, 2022, Transportation and Logistics Systems, Inc. (OTCQB:TLSS), (“TLSS” or the “Company”), received notice from OTC Markets Group that as the Company’s bid price has closed below $0.01 for more than 30 consecutive calendar days, it no longer meets the Standards for Continued Eligibility for OTCQB as per the OTCQB Standards, Section 2.3(2), which states that the Company must “maintain proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of $.01 per share on at least one of the prior thirty consecutive calendar days.”
The Company was informed further that, as per Section 4.1 of the OTCQB Standards, the Company will be granted a cure period of 90 calendar days during which the minimum closing bid price for the Company’s common stock must be $.01 or greater for ten consecutive trading days in order to continue trading on the OTCQB marketplace. If this requirement is not met by August 21st, 2022, the Company will be removed from the OTCQB marketplace. Upon such removal, the Company’s common stock would likely return to being quoted on the OTC Pink Tier of the OTC Markets Group, Inc. (continuing under the same symbol, “TLSS”) and would likely be subject to only limited quotation on the OTC Pink Tier. In addition, the Company was informed further that in the event that the Company’s closing bid price falls below $0.001 at any time for five consecutive trading days, the Company will be immediately removed from OTCQB. The Company plans to consider steps that may avoid such removal from the OTCQB marketplace, but no assurance can be given that such steps will succeed in avoiding such removal.
